The Financial Planning Association (FPA) has recorded an after tax surplus of $444,544 for the year ending 30 June, 2015.
According to figures in the FPA’s 2015 Annual Report, the member association recorded a before tax surplus of $894,562 for the year ending 30 June 2015 (down four per cent on the previous year) and an after tax surplus of $444,544 (down 54 per cent). This increased accumulated members’ funds to $8,764,862 — an increase of $444,544 on the previous year.
The significant changes that occurred in the financial year to 30 June 2015 that impacted the financials of the FPA were:
- The increase in member numbers and revenue without increasing membership fees;
- The continuing investment made in the advertising campaign funded from members’ advertising levy contributions, with the FPA investing more funds than collected; and
- The investment in the new customer relationship management system, which is now being amortised.
Other key results recorded by the FPA include a five per cent increase in membership as at 30 June 2015, with a total of 11,252 members, of which 48 per cent are Certified Financial Planner practitioners. The FPA also recorded a significant increase in enrolments in the CFP Certification Program, which grew by 34 per cent across the year.
During 2014-15, the FPA participated in over 200 separate stakeholder meetings with politicians, Government agencies and other stakeholder groups.
Members of the FPA also helped raise $267,000 for the Future2 Foundation — the charitable foundation of the FPA that assists disadvantaged young Australians.
